Are you ready to get your business idea off the ground in 2020? The best way to make that happen is with a business plan. Whether you’re writing a business plan yourself or referring to a business plan company, here is a strategy to help you get started.
5 Major Elements of a Business Plan in 2020
Ask any business plan company and they’ll tell you, every successful business plan includes these same 5 elements. When you have a solid handle on these essential aspects of your business, you have a much higher chance of success.
1. The Executive Summary
This element is simply a one or two-page overview of your entire business. Some people find it helpful to write this section last, as you’ll have a clearer picture of everything at that point.
2. The Business Overview
Use this element to answer every investor’s key questions:
(a) Who is your target market?
(b) What are you selling them?
(c) What need does your product or service meet?
(d) How do you do this in a better, or different way than your competition?
3. The Management and Employee Summary
Here’s where you introduce your dream team. Investors want to know you’ve got a support system in place to make this business functional. Give them resumes of all your current partners and staff. Include numbers and details if you think you’ll need to hire more employees.
4. The Plan of Operation
This plan includes more of the nitty-gritty details. Include your sales and marketing plans, how daily operations will work, and how you’ll measure success. For example, sales goals reached in a year. This section tells the reader how you’re going to turn your idea into a viable business.
5. The Financials
This element should include both a financial forecast and your financial needs. So include a specific startup cost and exactly how you’ll use those funds. It’s important to draw up a sales forecast, income statements, balance sheets, and cash flow statements. While this part can feel intimidating, a good business plan company can point you in the right direction fast!
Write Your 2020 Business Plan with Bargain Business Plan
Developing a business plan is designed to help you avoid stress and last-minute panic. So why not work with the best business plan company in the industry to create a controlled, rational plan to launch your business idea this year? Our MBA accredited writers can give you the leg up you need to gain investors, secure funding, and cultivate long-term success. Contact us today for a free consultation!